Identifying types of adjusting entries
A select list of transactions for Anuradha”s Goals follows:
3
|
Apr 1 |
Paid six months of rent, $4,800. |
|
10 |
Received $1,200 from customer for six-month service contract that began April 1. |
|
15 |
Purchased computer for $1,000. |
|
18 |
Purchased $300 of office supplies on account. |
|
30 |
Work performed but not yet billed to customer, $500. |
|
30 |
Employees earned $600 in salary that will be paid May 2. |
2
Requirement
1. For each transaction, identify what type of adjusting entry would be needed.